EUR/USD may rise as markets price in a December Fed rate cut, with structural factors and energy markets providing additional support.
Analysts maintain EUR/USD targets at 1.170 for next week’s Fed meeting and 1.180 by year-end, noting the pair remains modestly undervalued. Russia-Ukraine negotiations show little progress, ING's FX analyst Francesco Pesole notes.
Istanbul’s November CPI fell to 38.3% y/y from 40.8% in October, signaling potential moderation in today’s national CPI figures, with consensus forecasts pointing to a decline in Turkey’s headline inflation from 32.9% to 31.7% y/y. 1.